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2 weeks ago | 
news.bloomberglaw.com | Zach Williams |Danielle Dunn
New York Gov. Kathy Hochul (D) and legislative leaders are approaching a deal to raise the top rate of the state’s payroll mobility tax to help fill a $35.4 billion hole in the Metropolitan Transportation Authority’s multi-year capital plan.
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2 weeks ago | 
news.bloombergtax.com | Zach Williams |Danielle Dunn
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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1 month ago | 
news.bloombergtax.com | Michael Bologna |Danielle Dunn
The IRS has removed guidance from its website that directs state, local, and tribal governments on their data security responsibilities when handling federal tax information, raising questions for some revenue directors about the federal agency’s objectives. IRS has pulled down Publication 1075, Tax Information Security Guidelines for Federal, State and Local Agencies (Rev. 11-2021).
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1 month ago | 
news.bloombergtax.com | Danielle Dunn |Zach Williams
New York Gov. Kathy Hochul (D) reaffirmed her opposition to increasing income taxes on high-earners as lawmakers negotiate a final budget plan ahead of an April 1 deadline. “We’ll work with the legislature on funding, but I have said I’m not raising income taxes because I will cut income taxes instead,” she told reporters Tuesday.
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1 month ago | 
news.bloomberglaw.com | Danielle Dunn |Zach Williams
A person waits on a subway platform in New York City on February 4, 2025. Photographer: Angela Weiss/AFP via Getty Images PrintEmailMarch 17, 2025, 9:57 PM UTCMTA Budget Woes Could Decide Fate of New York Tax ProposalsLawmakers looks to plug transit agency’s $35.4 billion funding gapState budget, required to pass by April 1, is in final negotiationsThe most important tax debate in New York’s budget discussions is shaping up to occur behind closed doors.
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1 month ago | 
news.bloomberglaw.com | Zach Williams |Danielle Dunn
New York Gov. Kathy Hochul and legislators are negotiating a budget likely to exceed $252 billion. (Photo by Michael M.
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1 month ago | 
news.bloombergtax.com | Zach Williams |Danielle Dunn
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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1 month ago | 
news.bloomberglaw.com | Zach Williams |Danielle Dunn
New York budget negotiations are entering their final stage with a focus on the cost of living and public safety after the state Senate and Assembly on Thursday approved their respective spending resolutions ThursdayBoth chambers voted for higher taxes on the wealthy and corporations while resisting policy items backed by Hochul, including an overhaul of criminal discovery laws favored by prosecutors. The Senate approved its measures by a 36 to 21 vote and the Assembly 100 to 47.
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1 month ago | 
news.bloombergtax.com | Zach Williams |Danielle Dunn
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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1 month ago | 
news.bloomberglaw.com | Danielle Dunn |Zach Williams
New York budget negotiations will accelerate after lawmakers pass one-house budget resolutions this week. Photographer: Angus Mordant/Bloomberg via Getty Images PrintEmailMarch 11, 2025, 3:56 PM UTCNY Lawmakers Divided on Hochul's Tax Rebate Plan in Budget TalksState Senate budget proposal limits checks to seniorsDemocratic majorities back middle-class tax relief New York lawmakers are divided on a proposal by Gov.
